CION Investment Corp (CION): debt financing — CION Investment issues $33.7M additional Series A unsecured notes due 2026

CION Investment Corp

$33.7M aggregate principal issued; net proceeds ~$32.3M after fees.
Floating rate at SOFR + 3.82%, quarterly interest, matures Aug 31, 2026.
Rated A1.il by Midroog; listed and traded on Tel Aviv Stock Exchange Oct 10.
Proceeds to fund portfolio investments, working capital, and general corporate purposes.
Notes are additional issuance under Feb 2023 deed of trust, same terms as existing series.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

CION Investment Corp incurred senior notes of $33.7 million in aggregate principal amount with Mishmeret Trust Company Ltd. at SOFR plus a credit spread of 3.82% per year maturing August 31, 2026.

Instrument: senior notes
Principal: $33.7 million in aggregate principal amount
Counterparty: Mishmeret Trust Company Ltd.
Rate: SOFR plus a credit spread of 3.82% per year
Maturity: August 31, 2026
Event: incurrence

Exact text from the filing

On October 10, 2023, CĪON Investment Corporation (“CION”) issued approximately $33.7 million in aggregate principal amount of its additional Series A Unsecured Notes due 2026 (the “Additional Notes”) to institutional investors in Israel.

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Source: SEC EDGAR

accession 0001104659-23-108459

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